Florida Statute 624.10 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 624
INSURANCE CODE: ADMINISTRATION AND GENERAL PROVISIONS

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F.S. 624.10

624.10 Other definitions.—As used in the Florida Insurance Code, the term:

(1) “Affiliate” means an entity that exercises control over or is directly or indirectly controlled by the insurer through:

(a) Equity ownership of voting securities;

(b) Common managerial control; or

(c) Collusive participation by the management of the insurer and affiliate in the management of the insurer or the affiliate.

(2) “Affiliated person” of another person means:

(a) The spouse of the other person;

(b) The parents of the other person and their lineal descendants, or the parents of the other person’s spouse and their lineal descendants;

(c) A person who directly or indirectly owns or controls, or holds with the power to vote, 10 percent or more of the outstanding voting securities of the other person;

(d) A person, 10 percent or more of whose outstanding voting securities are directly or indirectly owned or controlled, or held with power to vote, by the other person;

(e) A person or group of persons who directly or indirectly control, are controlled by, or are under common control with the other person;

(f) An officer, director, partner, copartner, or employee of the other person;

(g) If the other person is an investment company, an investment adviser of such company, or a member of an advisory board of such company;

(h) If the other person is an unincorporated investment company not having a board of directors, the depositor of such company; or

(i) A person who has entered into a written or unwritten agreement to act in concert with the other person in acquiring or limiting the disposition of securities of a domestic stock insurer or controlling company.

(3) “Control,” including the terms “controlling,” “controlled by,” and “under common control with,” means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise. Control is presumed to exist if a person, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing 10 percent or more of the voting securities of another person.

(4) “NAIC” means the National Association of Insurance Commissioners.

(5) “Transact” with respect to insurance includes any of the following, in addition to other applicable provisions of this code:

(a) Solicitation or inducement.

(b) Preliminary negotiations.

(d) Transaction of matters subsequent to effectuation of a contract of insurance and arising out of it.

History.—s. 10, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 15, 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 1, ch. 2014-101.

F.S. 624.10 on Google Scholar

F.S. 624.10 on Casetext

Amendments to 624.10

Arrestable Offenses / Crimes under Fla. Stat. 624.10

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 624.10.

Annotations, Discussions, Cases:

Cases Citing Statute 624.10

Total Results: 8

Advantage General Insurance v. KILN/QBE International

Court: District Court of Appeal of Florida | Date Filed: 2009-04-29

Citation: 8 So. 3d 1213, 2009 Fla. App. LEXIS 3860

Snippet: and "effectuation of a contract of insurance." § 624.10(1)-(3), Fla. Stat. (2007). Since Advantage filed

Borden v. East-European Ins. Co.

Court: Supreme Court of Florida | Date Filed: 2006-01-19

Citation: 921 So. 2d 587, 2006 A.M.C. 758, 2006 Fla. LEXIS 9, 2006 WL 128689

Snippet: contract of insurance and arising out of it. § 624.10, Fla. Stat. (2005). Section 626.907, Florida Statutes

EAST-EUROPEAN INS. CO. v. Borden

Court: District Court of Appeal of Florida | Date Filed: 2004-08-06

Citation: 884 So. 2d 233, 2004 WL 1752121

Snippet: insurance," which the court, citing to section 624.10, Florida Statutes (1987), stated is a defined term

Hassneh Insurance Co. of Israel, Ltd. v. Plastigone Technologies, Inc.

Court: District Court of Appeal of Florida | Date Filed: 1993-09-14

Citation: 623 So. 2d 1223, 1993 Fla. App. LEXIS 9172, 1993 WL 347452

Snippet: 165613 MIAMI, FL 33176 U.S.A. According to section 624.10, Florida Statutes (1991), a transaction of insurance

WINTERTHUR INTERN., LTD. v. Palacios

Court: District Court of Appeal of Florida | Date Filed: 1990-03-20

Citation: 559 So. 2d 1214, 1990 Fla. App. LEXIS 1815, 1990 WL 29490

Snippet: Insurance Code. Id. § 624.10; see id. § 624.01 (defining Florida Insurance Code). Section 624.10, Florida Statutes

NAT. FED. OF RET. PERSONS v. Dept. of Ins.

Court: District Court of Appeal of Florida | Date Filed: 1989-12-08

Citation: 553 So. 2d 1289, 1989 WL 148423

Snippet: "transacting insurance" as that term is used in section 624.10, Florida Statutes. It contends also that the matters

Hood v. Hood

Court: District Court of Appeal of Florida | Date Filed: 1958-02-05

Citation: 100 So. 2d 422

Snippet: June 30, 1956, his adjusted gross income was $17,-624.10 with appellee’s contracts with the *425clinic going

Wilton v. County St. Johns

Court: Supreme Court of Florida | Date Filed: 1929-06-13

Citation: 123 So. 527, 98 Fla. 26

Snippet: Lewis Em. Dom., Sec. 255, 369, 596, 597; 20 C. J. 624; 10 R. C. L., 183; note 22 L.R.A. N. S. 64; State v